HomeMy WebLinkAbout01-05519., ,
INSORANCE COMPANY, INC.
No. $ ~ 001054
1611 WA7ER S7, NEW YORK, NY 10U36
QUALIFYING POWER OF ATTORNEY
Valid in
Cumberland
County only
ONLY VALID IF NUMBERED IN RED
KNOW ALL MEN BY THESE PRESENTS:
That SENECA INSURANCE COMPANY, INC., a corporation of the State of New York, does hereby make,
constitute and appoint: William Colello
its true and lawful attorney-in-fact with full power and authority, fox and on behalf of the Company as surety, to execute and
deliver and affix the seal of the Company thereto, if a seal is required, on all documents necessary or incidental to the execution
of bail bonds not exceeding $:.,rgpQ~1~100*** per bond.,
The execution of a bail bond by said attorney-in-fact shall be binding upon this Company as if such bond has been executed and
acknowledged by the regularly elected officers of this Company.
SENECA INSURANCE COMPANY, INC. cerfifies that this appointment is made in accordance with a resolution of the
Board of Directors of SENECA INSURANCE COMPANY, INC., by unanimous written consent dated Januazy 1, 1998, a
true and exact copy of which follows:
The Company authorizes the President, Executive Vice Presidents, Senior Vice Presidents, and Secretary to
appoint attorneys-in-fact or agents who shall have the authority to issue bail bonds in the name of the Company.
The signature of any of these authorized Company officers and the Company seal may be affixed by facsimile to
a qualifying power of attorney for the execution of a bail bond. The facsimile signature and seal used in this
manner is hereby adopted by the Company as the original and, therefore, is binding upon the Company with the
same force and effect as though manually affixed.
IN WITNESS WHEREOF, SENECA INSURANCE COMPANY, INC., has caused this document to be signed by its
duly authorized officer and its corporate seal to be hereunto affixed this 1st day of January, 2000
SENECA INSURANCE COMPANY, INC.
Qualifying Power -only, not to be ~a~s~°e\p~~N~~~iE~~~~~o~~y%
attached to any Bond. Valid only if =a SEAL ~-
individual Power of Attorney is Ws .+s~a $\
mod,,, lM'Y0~.7 \ B :
attached to each Bond executed. ~'~oiianuiiomt~~~~°"°\ y Marc T.A. Wolin, Secretary
State of New York
Borough of Manhattan
NOTARY PUBLIC
The foregoing instrument was acknowledged before me this lst day of January,
Secretary, of SENECA INSURANCE COMPANY, INC., a New York Corporati~
LANCELOT L. THOMAS
Notary Pubtlc, State of NaW YorR
No[ary Expiration Date No.:4-a943a5o
1 le m mks CDUnty
Commission Ez~iros Cctabar 97; 200 i/
by, Marc T.A. Wolin,
~ corporation.
Lance Thomas
Print Name
SENOP122-0198 `tI®Il9fl® Op®g-H
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COMMONWEALTH OF PENNSYLVANIA
INSURANCE DEPARTMENT
Harrisburg, PA April 1, 2001
Whereas, the SENECA INSURANCE COMPANY, located at New York, N. Y., has filed in this
Department a certified copy of its charter and a detailed statement of its Assets and Liabilities, and
otherwise complied with the requirements of Section 661 of the Act of Assembly of the Commonwealth of
Pennsylvania, entitled "An act relating to insurance; amending, revising and consolidating the Law &c.,"
approved the 17`h day of May, A.D. 1921, as well as with the requirements of the laws of this Commonwealth
applicable to such company in doing business herein.
Now Therefore, I, M. Diane Koken, Insurance Commissioner of the Commonwealth of Pennsylvania, do
hereby certify, in accordance with Section 1, of the Act of Assembly approved June 29, 1923 and known as act
No. 373 of the Laws of 1923, that the Seneca Insurance Company, of New York, N. Y., is duly
authorized to become and be accepted as sole surety on all bonds, undertakings and obligations required or
permitted by law or the ordinances, rules or regulations of any municipality, board, body, organization, or
public officer.
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111111111111111111111111111111111111111111111111111111111111111111111111111111111111111IIIIIIIIIIIIIIIIilllllllllll
0 0 0 0 l o s a s z o a o z s l o o l o 0
PROPERTY AND CASUALTY COMPANIES-ASSOCIATION EDITION
ANNUAL STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2000
OF THE CONDITION AND AFFAIRS OF THE
SENECA INSURANCE COMPANY, INC.
NAIC Group Code 0158 1271 NAIC Company Code 10936 Employer's ID Number 13-2941133
(Current Penad) (Prior Penod)
Organized under the Laws of the State of New York
using
as the Pod of Entry,
Incorporated 03/29/1978 Commenced Business 07/01/1978
Statutory Home Office 160 Water Street New York, NY 10038-4922
(Street antl Number) (City or Town, Stale antl Lp Cotle)
Main Administrative Office 160 Water Street
(Street antl Number)
New York, NY 10038-4922 212-344-3000
(City or TOWn, Stale and Zip Code) (Area Gode) (Telephone Numbers
Mail Address 160 Water Street New York, NY 10038-4922
(Street and Number or P.0 aoq (Qty or Town. Seale and Zlp Cotla)
Primary Location of Books and Records
(Street and Number)
New York, NY 10038-4922 212-344-3000
(Ciry or Town, State and 21p Cotle) (Area Code) (Telephone Number)
Annual Statement Contact Vincent I. Maida 212-344-3000
(Name)
vma ida@senecains urance. tom
(E-mail Address)
OFFICERS
President Douglas M Libby Secretary
Treasurer Marc Todd Andrew Wolin
VICE PRESIDENTS
(Mee Code) (Telephone Number) (Extension)
212-344-4567
Marc Todd Andrew Wolin
David Wiles Bishop Robed Philip Blaunstein Thomas Wesley Cochran Jr. #
Raymond Dawid Frank Vincent Donahue Jr. Melvin George Funk Jr,
Ahmed Kemal Ibrahim James Kramer Keith McCarthy
Ellen Caramore O'Connor Roben Willard Rhoades John Irving Rich Jr.
Chris Ivan Stormo Marc Todd Andrew Wolin
DIRECTORS OR TRUSTEES
Nikolas Antonopoulos # Andrew Acheson Barnard # Joseph Francis Braunstein Jr. #
Harvey Childs Peter James Daly # Bruce Adam Esselborn #
Dennis James Hammer # Albert Benjamin Lewis Douglas M Libby
Gary Stuad Resman # Mary Jane Robertson # Francis Warren Rode #
Frances Avignone Smith # Marc Todd Andrew Wolin
State of New York
5s
County of New York
The officers of this company, being duly sworn, each depose and say that they are the described officers of the said insurer, and that on the thirty-first
day of December last, all of the herein described assets were the absolute property of the said insurer, free and clear from any liens or claims thereon,
except as herein stated, and that this annual statement, together with related exhibits, schetlules and explanations therein contained, annexed or
referred to are a full and true statement of all the assets and liabilities and of the condition and affairs of the saitl insurer as of the thidy-first day of
December last, and of its income and deductions therefrom for the year ended on that date, and have been completed in accordance with the NAIC
annual statement instructions and accounting practices and procedures manuals except to the extent that: (1) state law may differ; or, (2) that slate rules
or regulations require differences in reporting not related to a counting practices and procedures, actor ing to the best of their information, knowledge
and belief, resp lively.
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oug as M. Libby Marc Todd Andrew Wolin Marc Todd Andrew Wolin
President ~- Secretary Treasurer
Subscribed and swo tfL fdre me this
16th ./d of 6rrrary,20
llama -.. _~
a. Is this an original fling? Yes (% j No [ (
b. If no,
1. Stale the amendment number
2. Date Filed
3. Number of pages attached
USNCELOT L. THOMAS
Notary public, State of New York
No. 24.4943150
Cualt3ed in Igngs County
Commission Expll+ea October tT, 2tM2
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ANNUAL STATEMENT FOR THE YEAR 2000 OF THE SENECA INSURANCE COMPANY, INC.
ASSTS
Current Year Prior Year
1 2
' 3 4 5
Ledger Non-Letlg
er Assets NOl Net Atlmittetl Assets Net Admitted
AsSels Assets Atlmittetl Colst+2-3 Assets
1. Bonds (less 8 )liability
(or asset 6ans(ers with put options, Schedule D, Part ,
1) 74,117,055 190,137 73,926,918 79,858,641
2. Stocks:
2.1 Preferred stocks (Schedule D, Parf 2,
Section 1)
2.2 Common stocks (Schedule D, Part 2,
Section 2) 16,857,516 16,857,516 16,326,737
3. Mortgage bans on real estate (Schedule 8):
3.1 First liens
3.2 Other than first liens
4. Real estate: (Schedule A):
4.1 Propenies occupietl by the company
(less $ encumbrances)
4.2 Other properties
(less $ encumbrances)
5. Cash ($ 3,199,805 Schedule E,
Part i) and short-Term investments
($ 11,455,470 Schedule DA, Part t) 14,655,275 14,655,275 6,673,939
6. Other invested assets (Schedule BA) 6,602 6,602 1,680
7. Receivable for secudlies
8. Aggregate write-ins for invested assets
9. Subtotals, cash and invested assets (Lines Ito 8) 105,636,448 190,137 105,446,311 102,866,997
10. Agents' balances or unwllecled premiums (net as to
commissions and dividends):
10.1 Premiums and agents' balances in course of
collection (after deducting cedetl reinsurance
balances payable of ($ 715,672) 639,646 36,956 602,690 325,357
10.2 Premiums, agents' balances and installments
booketl but deferretl and not yet due (after
deducting ceded reinsurance balances payable
of
$ 4,878,431 )(Including
$ earned but unhilletl
premiums) 4,628.269 4,628,269 6,981,038
10.3 Aarued retrospective premiums (after
deducting ceded reinsurance balances payable of
$ )
11. Funds held by or deposited with reinsured
companies
12. Bills receivable, taken tot premiums
13. Reinsurance recoverables on loss and loss
adjustment expense payments (Schedule F, Pan
517
7
658
7
517
658
1,297,837
3, COls.2 and 3)
14. Federal income laz recoverable antl interest thereon ,
, ,
, 198,395
14A. Guaranty lands receivable or on tleposit
15. Electronic data processing equipment 239,986 239,986 280,893
16. Interest, dividends and teal estate income due and
1
214
208 '
214
208
1
328
1
040
accrued ,
, ,
, ,
,
17. Receivable from parent, subsidiaries and amliates 733,000 733,000 51
18. Equities and deposits in pools and associations
19. Amounts receivable relaeng to uninsured accident
antl health plans
20. Other assets nonadmitted (Exhibit 1) 299,019 299,019
21
regate write-ins for other than invested assets
A 60,156 G0,15G 113,768
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22. TOTALS Lines 9lhrou h21 119,895,041 1,214,208 526,112 120,583,137 113,104,664
DETAILS OF WRITE-iNS
0801.
0802.
0803.
0898. Summary of remaining write-ins for Line a from '
overflow page
0899. Totals (Lines 0801 lhru 0803 plus 0898) (Line 8
above
x101. Miscellaneous Receivables 60,156 60,156 113,768
2102.
2103.
2198. Summary of remaining write-ins for Line 21 from
oveniow page
2199. Totals (Lines 2101 thru 2103 plus 2190) (Line 21
156
60
113
768
above 60,156 , ,
;~z g': a, , Y:~,tniS
2
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ANNUAL STATEMENT FOR THE YEAR 2000 OF THE SENECA INSURANCE COMPANY, INC.
LIABILITIES. SURPLUS AND OTHER FUNDS
2
Current Year Prior Year
i. Losses (Part 3A, Line 32, Column S) 34,765,316 31,138,284
1A. Reinsurance payable on paid loss and loss adjustment expenses (Schedule F, Pad 1, Column 2)
2. Loss adjustment expenses (Part 3A, Line 32, Column 6) 12,765,424 12,247,341
3. Contingent commissions and other similar charges 537,722 571,470
4. Other expenses (excluding taxes, licenses and fees) 1,173,162 1,156,442
5. Taxes, licenses and fees (ezGUding federal and foreign income taxes) 647,029 934,381
6. Federal and (oreign income taxes (excluding deferred taxes) 657,535
7. Borrowed money _
e. Interest, including $ on borrowed money
9. Unearnetl premiums (PaA 2A, Line 34, Column 5)
(atterdeducting ceded reinsurance unearned premiums of$ 11,518,983 ) 19,634,862 20,005,068
10. Dividends deGared and unpaitl:
a. Stockholders
b. Policyholders
t 1. Funds held by tympany under reinsurance treaties (Schedule F, Part 3, Column 14) 112,749 43,809
12. Amounts withheld or retained by company for acwunt of others 118,387 173,383
13. Remittances and items not allocated
14. Provision for reinsurance (Schedule F, Part 7) 598,185 139,146
15. Excess of statutory reserves over statement reserves (SChetlule P Interrogatories) 387,000
16. Net adjustments in assets and liabilities tlue to foreign exchange rates
17. Drafts oulSWnding
18. Payable to parent, subsidiaries and affiliates
19. Payable for securities ..
20. Liability for amounts held under uninsured accident and health plans
21. Capital Notes $ .and interest thereon $
22. Aggregate write-ins for liabilities 28,422 86,477
23. Total liabilities (Linestthrough 22) 71,036,793 66,822,801
24, gggregale write-ins for special surplus funds
25A. Common capital stock 4,800,000 4,800,000
256. Preferred capital stock
25C. Aggregate write-ins for other than special surplus funds
26A. Surplus Notes
268. Gross paitl in and contributed surplus_ 24,431,461 24,431 ,4fi1
26C. Unassigned funds (surplus) 20,312,883 17,050,402
26D. Less treasury clock, al cost:
(1) shares common (value included in Line 25A $ )
(2) shares preferred (value included in Line 258 $ )
27. Surplus as regards policyholders (Lines 2410 26C, less 26D) (Page 4, Line 32) 49,544,344 46,281,863
28. TOTALS Pa a 2, Line 22, Col. 4 120,583,137 113,104,664
DETAILS OF WRITE-INS
2201. Miscellaneous Payables 28,269 50,398
2202. Fair Plan Liability
153
-
3fi,079
2203.
2298. Summary of remaining write-ins for Line 22 from overflow page
2299. Totals Lines 2207 thru 2203 lus 2298 Line 22 above 28,422 86,471
2401.
2402.
2403.
2498. Summary of remaining write-ins for Line 24 from overflow page
2499. Totals Lines 2401 thru 2403 lus 2498 Line 24 above
25C01.
25C02.
25C03.
25C98. Summary of remaining write-ins for Line 25C from overflow page
25C99.TOtals lines 25C01 thru 25C03 lus 25C98 Line 25C above
3
..
ANNUAL STATEMENT FOR THE YEAR 2000 OF THE SENECA INSURANCE COMPANY, INC.
UNDERWRITING AND INVESTMENT EXHIBIT
STATEMENT OF INCOME
- , 2
Current Year Prior Vear
UNDERWRITING INCOME
1. Premiums Darned (Part 2, Line 32, DOlamo 4) 100,161,027 87,651,997
OEOUCTIONS
2. Losses incurred (Part 3, line 32, Column 7) 57,242,747 47,869,022
3. Loss expenses incurretl (Pan 4, Line 22, Column 1) 5,740,812 5,561,206
4. Other underwriting expenses incurretl (Part 4, Line 22, Column 2) 37,393,270 33,587,751
5. Aggregate write-ins for underwriting deductions
6. Total untlenvriling tletluclions (Lines 2lhrough 5) 100,376,829 87,017,979
7. Nei underwriting gain or (loss) (Line 1 minus Line 6) (215,802) 634,018
INVESTMENT INCOME
B. Net investment income earned (Pan 1, Line 14) 5,060,001 5,137,003
9. Net realized capital gains or (losses) (Part 1A, Line 10) 3,126, 643 99.942
9A. Net investment gain or (loss)(Lines8+9) 1,933,358 5,037,061
OTHER INCOME ~.
10. Net gain or (loss) Irom agents' or premium balances charged oR (amount recovered $ amount
charged off $ )
11. Finance and service charges not included in premiums
12. Aggregate write-ins Idr miscellaneous income
13. Total other income (Lines 10 through 12)
14. Nel income before dividends to policyholders and before federal and foreign income taxes (Lines 7 + 9A+ 13) 1,717,556 5,671 ,079
14A. Dividends to policyholders (Exhibit 2, Line 16, Column 7 plus Page 3, Line tOD, Column 1 minus Column 2)
148. Net income, aRer dividends to policyholders but before federal and foreign income faxes (Line 14 minus Line 74A) 7,717,556 5,671,079
15. Federal and foreign income lazes incurred 319,779 815.245
16. Nel inwme (Line 748 minus Line 15) (td Line 18) 1,397,777 4,855,834
CAPITAL AND SURPLUS ACCOUNT
December 37 prior year (Page 4, Line 32, Column 2)
77. Surplus as regards policyholders 46,281,863 47,419,799
,
GAINS AND (LOSSES) IN SURPLUS
7e. Net income (from Llne is)
19. Nel unrealized capital gains or (losses) (Part 1A, Line 11)
2D. Change in nonadmitted assets (Exhibit 1, Line 6, Col. 3)
21. Change in provision for reinsurance (Page 3, Line 14, Column 2 minus Column 1) 1,397,777
1 ,342.114
594,629
(459,039) 4,655,834
3,345
(54,208)
384,093
22. Change in foreign exchange atljuslment
23. Change in excess of statutory reserves aver statement reserves (Page 3, Line 75, Column 2 minus Column 7)
387,000
'~ (327,000)
23A. Change in surplus notes
24, Capital changes:
a. Paid in (Exhibil2, Line 6, Column 1)
b. Transferred from surplus (Stock Divitlend)
c. Transferred to surplus
25. Surplus adjustments:
a. Paid In (Exhibit 2, Line 7, Column 7)
b. Transferred to capital (Stock Dividentl)
c. Transferred from capital '.
26. Net remittances from or (to) Home Of(ce (ExhiDil2, Line 4b minus Line 12b, Column t)
27. Dividentls to stockholders (cash)
28. Change in treasury stock (Page 3, Line 26D (7) and (2), Column 2 minus Column 1)
29. Extraordinary amounts of taxes for prior years
ains and losses in surplus
30
ate write-ins for
re
A
g
.
g
gg
holders for the year (Lines 18 through 3Dj
31
olic
lus as re
ards
Chan
e in sur 3,262.481 4,862,064
.
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p
32. Sur lus as r artls olio bottlers, December 31 curtent ear Lines 17 lus Line 37 Pa a 3, Line 27 49.544,344 46,281,863
DETAILS OF WRITE-INS
D501.
0502.
0503.
0596. Summary of remaining write-ins for Lino 5 from overflow page
0599. Totals Lines 0501 thru 0503 lus 0598 Line 5 above
1201.
1202.
1203.
7298. Summary prremaining wdte-ins for tine 12 from overflow page
1299. Totals Lines 1201 thru 1203 lus 1298 Line 12 above
3001.
3002.
3003.
3098. Summary of remaining write-ins for Line 30 from overlow page
3D99. Totals Lines 3007 Ihru 3003 lus 3090 Line 30 above
4
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